AskBiography Logo   Latest News  Follow Us on Twitter  Follow Us on Google Buzz  Became Fan - Facebook  Subscribe to RSSRSS   Bookmark and Share

Lithuanian litas

Currency
Local nameLietuvos litas  
ISO 4217 CodeLTL
Official userLithuania Lithuania
Inflation1.8%
ERM
Since28 June 2004
Fixed rate since2 February 2002
3.45280 litai
Bandpegged in practice, 15% de jure
Subunit
1/100centas
SymbolLt (Litas), ct (Centas)
Coins and Banknotes
Central bankBank of Lithuania

     Home | Currency | Lithuanian litas





The Lithuanian litas (ISO currency code LTL, symbolized as Lt; plural litai or litų) is the currency of Lithuania. It is divided into 100 centų (genitive case; singular centas, nominative plural centai). The litas was first introduced in 1922 after World War I, when Lithuania declared independence and was reintroduced on June 25, 1993, following a period of currency exchange from the ruble to the litas with the temporary talonas then in place. The name was modeled after the name of the country (similarly to Latvia and its lats). From 1994 to 2002, the litas was pegged to the U.S. dollar at the rate of 1 to 4. Currently the litas is pegged to the euro at the rate of 3.4528 to 1. The euro was expected to replace the litas by January 1, 2010, but due to the current rate of inflation and the economic crisis, this date will be delayed for another four years until 1 January 2014.


Warning: simplexml_load_file(http://gdata.youtube.com/feeds/api/videos/-/Lithuanian/litas?orderby=viewCount&max-results=10) [function.simplexml-load-file]: failed to open stream: HTTP request failed! HTTP/1.0 410 Gone in /home/askbio/public_html/index_bio.php on line 257

Warning: simplexml_load_file() [function.simplexml-load-file]: I/O warning : failed to load external entity "http://gdata.youtube.com/feeds/api/videos/-/Lithuanian/litas?orderby=viewCount&max-results=10" in /home/askbio/public_html/index_bio.php on line 257

Fatal error: Call to a member function children() on a non-object in /home/askbio/public_html/index_bio.php on line 260